18 March 2009: Thirty countries met in Paris, France, to discuss the fifth replenishment of the Global Environment Facility (GEF-5), with several calling for a substantial increase in the replenishment of the GEF. The First Meeting of Contributing Participants towards GEF-5 gathered prospective donors from developed and developing countries from 17-18 March 2009, to consider, inter alia, innovative sources of funding, including the possibility of obtaining carbon credits for GEF projects that mitigate greenhouse gas emissions.

Participants also evaluated the effective exchange rates to be used in determining GEF-5 contributions and the future strategic positioning of the GEF. They discussed key themes to be considered during the replenishment negotiations, including: institutional reform and governance; a focus on effectiveness, efficiency and results; private sector engagement; new sources of financing; resource allocation framework; and scope and mandate of GEF focal areas. Participants agreed to group the issues raised under two broad themes: Institutional Reform, and Governance and Programming for GEF-5.
In addition, they requested from the GEF Secretariat: a note on broadened access to GEF resources, including a proposed pilot on direct access; a note on mainstreaming the replenishment of LDCF and SCCF; a consolidated note by all the GEF Agencies on the issues raised in the strategic positioning paper; and information on co-financing and procurement. These themes will be discussed in depth at the next replenishment meeting, to be held from 25-26 June 2009, in Washington DC, US. [GEF-5 Replenishment Meeting]